February 10 Alex Moglia, President of Moglia Advisors, has submitted an article on corporate fraud identification and prevention, partially based on Moglia Advisors' experience in fraud investigations and forensic accounting. The article, "WHAT CAN FINANCIAL INSTITUTIONS LEARN FROM THE BITTER LESSONS OF FRAUD?" will be published in the March 2010 issue of the Banking & Financial Services Policy Report. January 10 Moglia Advisors consulted with a Northwest Suburban Chicago based bath and kitchen company, and assisted in the preparation of the various forecasts necessary for the company to refinance their loan obligations. As a result of assistance from Moglia Advisors, the company was able to renegotiate the loans with the bank and was able to obtain concessions from key suppliers. January 10 At the request of a secured lender, Alex Moglia, President of Moglia Advisors, was recently appointed federal receiver for two related computer software services companies, in the U.S. District Court, Southern District of Ohio court. Within 24 hours of appointment, Mr. Moglia and his staff at Moglia Advisors, tracked down the principal of these businesses and caused the principal of the businesses to enter into immediate settlement discussions with the lender. The principal of the companies had tendered what appeared to be falsified financial information to the lender. January 10 Moglia Advisors served as financial advisor to a banking software development firm with operations in the United States and Europe. The client is a portfolio company of a group of private equity investors. In conjunction with the client's legal counsel, Moglia Advisors advised the client on the payment of employee and vendor claims in an organized fashion so as to minimize or eliminate possible personal liability of directors and officers of the company. October 09 Alex Moglia of Moglia Advisors was appointed bankruptcy trustee for the Arena Football League. Moglia Advisors served as the trustee's financial advisors and successfully negotiated with prospective buyers culminating in the sale of the league for 6.1 million dollars in November of 2009. August 09 Alex Moglia of Moglia Advisors was appointed trustee of JM Products, makers of ISOPLUS ethnic hair care products, the largest and oldest family owned ethnic hair care producer in the United States. Moglia Advisors, the trustee's financial advisors, oversaw the continued operations of the business until the successful sale of the company for 1.8 million dollars over the stalking horse bid in November of 2009. April 09 Wildwood Industries - Alex Moglia was appointed bankruptcy trustee of the Bloomington, IL manufacturer of air filter and vacuum cleaner bags. Creditors sought the appointment of a trustee after assets were diverted. In cooperation with creditors, law enforcement agencies and Moglia Advisors, the trustee uncovered a $200 million fraud involving equipment leases. January 09 Moglia Advisors served as the assignee for the benefit of creditors of a national wireless telephone provider. Barry Davis was lead consultant. The assets of the company were sold to a Miami based wireless provider that continued the operations of the business. The service is geared to be used by children as a security measure to maintain contact with their parents and other parent-selected parties. December 08 Alex Moglia and Gary Wencel of Moglia Advisors participated as panelists at the Holland and Knight LLP and Chicago Urban League's NextOne Seminar on December 6, 2008. The seminar was titled "Preparing for 2009 - Hot Topics for Business during the Recession." November 08 Moglia Advisors served as assignee for the benefit of creditors of a Missouri-based beverage packager that was severely affected by the cancellation of a key order from its biggest customer. Among the avenues pursued by Barry Davis and Chuck Keenon, consultants at Moglia Advisors, prospective buyers were sought out for the operation. Ultimately, a bankruptcy was filed and the sale process of assets was completed under court supervision. October 08 A large diversified real estate developer operating in the Midwest, retained Moglia Advisors as its' financial advisor for purposes of reviewing the client's financial systems and procedures, the viability of its numerous developments, and presenting a restructuring proposal to its' key lenders. Alex Moglia was the lead on this engagement. CQ Weekly recently released an article, "Ethanol's Slow Burn" detailing the current fluctuations in the troubled ethanol industry. Alex Moglia, president of Moglia Advisors, was quoted in the article. Earlier this year, Robert Barba, in his article entitled "In Alternative Fuel Lending, the Boom Seems to Be Over" describes the present woes of ethanol producers and the banks that have funded them. In this article, the president of Moglia Advisors, Alex Moglia, was quoted on the present financial crisis of the industry. Alex Moglia, president of Moglia Advisors, participated in a special two part seminar presented to the Underground Contractors Association. Mr. Moglia helped present "Developing a Game Plan for Surviving the Construction Recession" in which both offensive and defensive strategies were outlined for all of the UCA members whom attended. September 08 The owners of a nationally-known Midwest water park, hotel, and campground resort retained Moglia Advisors to provide financial and operational advisory services. Alex Moglia and Mark Baum led the engagement with support from Gary Wencel, Diana Casas, and Chuck Keenon. Moglia informed property owners within the resort complex of the difficulties encountered by the resort due to the sharp slowdown in the overall resort industry, and informed the resort's lenders about the financial condition and prospects for the resort. As part of our services, we sought out and negotiated with financial and industry investors, created and maintained an electronic due diligence data room, and restructured supplier debt through composition agreements. The president of Moglia Advisors, Alex Moglia, was recently interviewed for the BusinessWeek.com article, "Markets: What You Should Be Watching Now" Mr. Moglia, in the article, outlined what some lenders' actions will be as a reaction to the current economic. September 2008 Alex Moglia, president of Moglia Advisors, was quoted in BusinessWeek.com. Banks like Barclays and Bank of America, which have huge amounts of capital and the ability to pull together other institutions to form a lending consortium, are anomalies. "Most companies have to explore a network of lenders and investors who work in distressed markets, and most of them aren't acting in this environment," he says. "They're waiting for even worse times to come before they deploy their assets. Most of the lenders we do business with are not planning to deploy a penny until 2009." June 08 Alex Moglia, president of Moglia Advisors, was interviewed for the June article "U.S. Biofuel Plants go Bankrupt on Feedstock Costs" In this article, Mr. Moglia details the reasons behind the ailing biofuel industry; and what awaits companies in that field. June 2008 Alex Moglia, of Moglia Advisors, participated as a panelist at ABI’s 15th Annual Central States Bankruptcy Workshop in Traverse City, Michigan, June 12 - 15, 2008. The title of the discussion was “Business Subprime Lending Issues: Whoa to the Woes” The panel discussed a variety of financing options for financially distressed companies. To see the presentation click here. May 2008 Alex Moglia participated on a panel presentation at the Optimizing Ethanol Plants conference in Minneapolis, MN on May 14, 2008. The title of the panel discussion was "Legal Issues in Restructuring Existing Ethanol Plants" and Alex discussed the processes of conducting an operational and financial analysis, and restructuring ethanol plants. To see the presentation, click here March 2008 Alan Friedman of Moglia Advisors served as financial advisor to three unrelated multi-state residential developers in refinancing, sale and/or completion of properties worth approximately $100 million combined. Alex Moglia spoke at the Iowa State Bar Association's Agricultural Law Seminar in Des Moines, Iowa on March 27, 2008. His presentation provided a financial and operational analysis of proposed and operating ethanol plants, including the investment banking activities of raising debt and equity capital in distressed circumstances, and the outright sale of plants to U.S. or foreign investors. February 2008 Fellow TMA Members Moglia Advisors and Concord Financial Advisors announce the closing of a $13.5MM senior secured credit facility for a bakery ingredients manufacturer in Elk Grove Village, Illinois. Moglia Advisors was initially hired as the financial and operational advisors. The deal was successfully closed within 60 days. Barry Davis worked with Concord Financial Advisors on this deal. Alex Moglia authored an article with Jim Hogan, of Moglia Advisors, titled "The Ethanol Industry May be Out of Gas" which was published in the February issue of the ABI Journal. To read the article click here. Alex Moglia, of Moglia Advisors, participated as a panelist at the ABI Annual Rocky Mountain Bankruptcy Conference in Denver, February 14 - 15, 2008. The title of the discussion was "Alternative Energy Development: The Newest Ski Jump Event." The panel looked at what is driving the boom in alternative energy and which industries are headed for a "shakeout." To see the presentation, click here. Alex Moglia also participated on a panel at the Distressed Real Estate Investing Summit, February 20 - 22, 2008, in New York. The title was "Opportunities for Buyers and Sellers in Sales of Distressed Assets" Panelists talked about prices and terms of sales transactions, buying strategies, and types of financing. December 2007 An article entitled "Surviving and Profiting from the Collapse of the Homebuilding Industry" was written by Alex Moglia and Jim Hogan of Moglia Advisors and was published in the December issue of TMA's Journal for Corporate Renewal. To read the article click here. Barry Davis of Moglia Advisors worked a turnaround engagement for an award winning independent software vendor and voice processing marketer. Barry focused on cash flow reporting and improvements in profitability. The improvement in profitability was primarily focused on proper time allocation reporting and the related billings for each client project. In addition, we showed the client how to report to its bank on cash flow results. October 2007 Moglia Advisors served as the assignee to the benefit of creditors of Trimax Building Products, Inc., which designed and manufactured plastic lumber for residential, commercial and municipal applications. Chuck Keenon, of Moglia Advisors, and Alex Moglia managed the sale of assets, including inventory, intellectual property and machinery and equipment, within 21 days from the date of the assignment. The assets are now part of the operations of the buyer. Moglia Advisors served as the assignee for the benefit of creditors of National Liquid Packaging, LLC, a private label liquid packaging business that served household cleaning and automotive care companies. Barry Davis, of Moglia Advisors, managed the completion of work in process inventory, billing, collections of accounts receivable, sale of raw materials, disposition of non-saleable inventories and miscellaneous supplies, and the auction sale of the machinery and equipment to an industry competitor. Moglia Advisors served as restructuring advisor to a plastic injection molding company that primarily served Tier I and II automotive manufacturers. Moglia led the operational, organizational and financial restructuring that led to the eventual sale of the business as a going concern. Moglia worked closely with management in order to eliminate excess costs, increase product margins, and restore positive cash flow on a consistent basis. April 19, 2007 Alex Moglia and Diana Casas organized a panel discussion sponsored by the Commercial Finance Association. The topic of discussion was "When Worlds Collide: Can Banks and Hedge Funds Prosper Together?" Alex, along with the other panelists, discussed the multiple roles of corporate lenders and hedge funds and how they compete and cooperate. April 30, 2007 Alex Moglia participated as a panelist at the TMA Chicago/Midwest program in Milwaukee, WI. The panel discussed and compared assignments for the benefit of creditors in Illinois and section 128 receiverships in Wisconsin. June 6, 2007 Alex Moglia participated in the Financial Advisors' Toolbox session at the 23rd Annual Bankruptcy and Restructuring Conference of the Association of Insolvency & Restructuring Advisors. Alex addressed the valuation and marketing of intellectual property. May 2007 Moglia Advisors served as the assignee for the benefit of creditors of Applied Composites, Inc. and Diversified Composites, Inc., manufacturers of fiberglass components for industrial and consumer products. Moglia Advisors managed the completion of work in process inventory, billing and collections of accounts receivable and the auction sale of the real estate. Moglia sold the intellectual property, machinery and equipment to a Chinese multinational company. Alex Moglia of Moglia Advisors was appointed receiver for a sixty-nine unit single family home development in New Lenox, IL known as Sanctuary Pointe. The Moglia team contracted for street repairs and other minor construction and worked with the Village of New Lenox to assure that the development was well maintained and up to code. The Moglia team also assisted in marketing the property which was recently sold to another developer. November 3, 2006 Alex Moglia, president of Moglia Advisors, was a guest speaker of the Bankruptcy Section of the Milwaukee Bar Association in Milwaukee, Wisconsin. Alex spoke on "The Little Known World of Federal Receiverships." The presentation included a step by step analysis of a federal receivership as an alternative to a federal bankruptcy or Chapter 128 liquidation in Wisconsin. October 14, 2006 Alex Moglia, president of Moglia Advisors, participated as a panelist at the TMA Annual Convention in Orlando, Florida. The topic was "Rainmaking 101." Alex spoke on how to develop a successful national corporate restructuring boutique firm. September 29, 2006 Alex Moglia, president of Moglia Advisors, participated in a panel at the State Capital Global Law Firm Group's 2006 Annual Meeting in Baltimore, Maryland. The topic of discussion was "Avoidance of Bankruptcy and General Workout Issues" and Alex spoke on receiverships and assignments for the benefit of creditors. May 1, 2006 Headquartered in the Chicago area, the firm will continue its operational and financial services under the new look and name of Moglia Advisors. In conjunction with its recent name change, Moglia Advisors is pleased to announce the expansion of the Chicago office. The new name, logo, and expansion are steps in the growing professional practice of Moglia Advisors. June 16, 2005 Alex Moglia, president of Moglia Associates, a national corporate restructuring firm, was a co-presenter on “Hot Topics and Recent Developments in Claims: Procedures, Objections, Late Filing, Estimation, Subordination, and Recharacterization” The presentation was given at the ABI Central States Bankruptcy Workshop in Traverse City, Michigan. August 18, 2005 Alex Moglia was a guest speaker for the second year at the 35th Annual Iowa Bankruptcy Seminar. Alex spoke on, “The Roles of the Corporate Turnaround Professional and Chapter 11 Trustee and the New Act: Have the Roles Really Changed?” May 7, 2005 Alex Moglia has been appointed vice-chair of the Board of Directors of the Bankruptcy Court Liaison Committee for the Northern District of Illinois. The Committee was formed to promote communication among the U.S. Bankruptcy Court in Chicago, attorneys and other insolvency professionals, and to create a more efficient Court environment.